Fitch Ratings: Latest News

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18.11.2021 / 14:20

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Ratings of global financial institutions relatively unscathed by covid: Fitch

Fitch Ratings said on Thursday.

Fitch Ratings India 2020 crisis

Fitch sees covid-19 adversely impacting India's medium-term growth trajectory

Indian economy even with a rollout of coronavirus vaccine unlikely to fully restore the economy to health over the next five years, Fitch Ratings said on Thursday, while lowering its estimate of potential growth to 5.1% on average over 2020 to 2025, from 7% before the pandemic.The rating agency said even though government has pre-ordered 1.6 billion doses of vaccines, including 500 million doses of the Oxford/AstraZeneca vaccine, it seems likely that the vaccine rollout over the next 12 months will not reach the majority of the population given the huge logistical and distribution challenges. “The rollout of the vaccine will require unprecedented cooperation among manufacturers, governments, cargo operators and ground workers.

Fitch Ratings India vaccine economy Government

Global credit rating agency issues new warning over Canada’s coronavirus spending, debt

pandemic passes.Fitch Ratings downgraded Canada’s triple-A credit rating in June, dropping the country to an “AA+” rating over what it called “the deterioration of Canada’s public finances” due to COVID-19.

Bill Morneau Fitch Ratings Canada Coronavirus economy Coronavirus

Border face-off should not distract from reforms: Fitch

NEW DELHI : Fitch Ratings on Monday said though the recent tensions on India’s border do not pose an immediate threat to the country’s sovereign rating, it should not distract the government from undertaking economic reforms.“Most recent (border) situation in India does not impact its credit profile immediately.

Fitch Ratings China city New Delhi India pandemic economy Government

India very likely to announce another set of fiscal stimulus measures: Fitch

NEW DELHI : India is very likely to come out with another round of fiscal stimulus package, worth about 1 per cent of GDP in the coming months, Fitch Ratings said on Monday.Fitch, which last week lowered India's sovereign rating outlook to negative from stable, said it has factored in the outgo for additional fiscal stimulus while deciding on the rating action.Fitch Director Sovereign Ratings Thomas Rookmaaker said COVID-19 is still in India and it is “very likely" that the government will have to spend a bit more on fiscal measures to support the economy.“In our forecast we have factored in a larger stimulus package, not just 1 per cent of GDP of fiscal measures that have been announced so far.

Fitch Ratings city New Delhi India covid-19 pandemic economy Government

Covid-19: Fitch says Indian banks' asset quality to worsen on lending pressure

MUMBAI: Indian banks will see their asset quality deteriorate by 200-600 basis points (bps) for at least the next two years due to increased lending pressure to revive the credit flow in the economy, Fitch Ratings said on Thursday.

Fitch Ratings India city Mumbai covid-19 economy Coronavirus

Facebook deal to help Reliance monetise platforms, deleverage: Fitch

NEW DELHI : Facebook Inc's USD 5.7 billion investment in Jio Platforms, subsidiary of Reliance Industries Ltd (RIL), will help to monetise the digital platforms of both companies and aid in deleveraging of RIL's balance sheet, Fitch Ratings said on Thursday.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0